High Fidelity Pivots Away from Developing a Virtual Reality Platform

High Fidelity, a Virtual Reality gaming platform that used an EOS-based token and that received $35M in funding from Mike Novogratz’ Galaxy Digita, l laid off 25% of its staff and decided to pivot away from the VR technology.

High Fidelity VR dance floor

In an announcement earlier in May Philip Rosedale, CEO, wrote that the pivot is necessary as the VR and headset technology took longer than expected to develop. Number of people who own and use HMDs (head-mounted devices) is in tens of thousands, rather than millions as Philip wrongfully predicted in the past.

Now the company will shift its focus, at least temporarily, towards becoming more of a B-2-C platform offering corporations a solution to conduct online meetings remotely. Overall, the new model seems to carry a resemblance to Second Life, an artificial reality or a “metaverse”, that Rosedale was the creator of in the past.

This is of course disappointing news to some EOS fans who had very high expectations from High Fidelity and were really looking forward to trying out their VR headsets in the new environment.

I was really mesmerized by this video produced by Rob Finch of Cypherglass where he among others takes a tour of an ancient Egyptian tomb with a real guide with the help of High Fidelity platform.

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